Develop Global (DVP) Company Presentation summary

Strategic focus and business model

• Pursues a hybrid model combining mine ownership with mining services to diversify revenue and de-risk operations.

• Targets production of clean energy transition metals and aims for strong ESG performance.

• Seeks to operate 5–7 mining projects, including third-party contracts to generate free cash flow.

• Focuses on building world-class underground mining capability as a competitive advantage.

Key assets and project metrics

• Woodlawn Cu/Zn: 10-year mine life, A$2.6b revenue, A$1.1b free cashflow, A$728m pre-tax NPV, fully permitted.

• Pioneer Dome Li: 7-year mine life, A$2.2b revenue, A$666m free cashflow, A$373m pre-tax NPV, approvals expected H2 CY24.

• Sulphur Springs Zn/Cu: 8-year mine life, A$2.9b revenue, A$745m free cashflow, A$523m pre-tax NPV, fully permitted.

• Mining services division holds major contracts (Bellevue Gold, Mt Marion, Beta Hunt) with FY25 revenue forecast at A$200m.

Financial position and funding

• Cash position of A$41m as of 30 June 2024, with A$10.5m more expected from options in June 2025.

• Equipment finance debt of A$36.5m is covered by mining services agreements; no drawn corporate debt.

• Undrawn asset financing facilities of A$40m support operational growth.

• Woodlawn funding process near completion; Trafigura selected as funding and offtake partner.

• Unrecognised tax losses of A$283m (potential A$85m cash tax shield) available.